Horowitz partner for Troy studio has tangled legal past

Despite a filing for bankruptcy protection, Troy landlord Sandy Horowitz continues to float a plan to develop a movie studio in South Troy, and he has partnered with a California firm to help build the project.

Katersky’s business career has been entangled in lawsuits over failed ventures and clashes with former partners.

He was sued for alleged fraud by former business partners in Culver Studios, which he once managed, and by a company that says it helped him expand into New Mexico. Katersky denied wrongdoing in the cases.

Last month, Pacifica Mesa, the owner of Albuquerque Studios, filed for Chapter 11 bankruptcy protection, claiming debts of nearly $105 million … “I’m proud of my track record,” Katersky said in an interview, adding that his past business ventures had been influenced “by events far outside their control.”

Horowitz and Pacifica are proposing to build the studio at the former Bruno Machinery building (photo above), which Horowitz owns. According to documents filed as part of Horowitz’s Ch. 11 bankruptcy case, they are also proposing to buy an adjacent city-owned property at 1 Monroe Street. (map) As Dana Arnold, chief executive at Pacifica wrote in a May letter to David Heer Realty in Troy:

“This letter is intended to express our desire to explore the possibility of the use of the city’s property as well as Sandy’s adjacent site to create a full studio complex. We understand that such a possibility is fraught with issues and potential complications, however, a long walk always starts with a first step.”

The South Troy property is adjacent to where the Beacon Institute for Rivers and Estuaries is planning an environmental education center. It isn’t clear how the development of a movie studio would impact the Beacon project.

Horowitz, in a court filing, said the studio could be an important step for the Capital Region: “The presence of a film studio in upstate (New York) would greatly alter the economic impact on the entire region in a very positive way,” Horowitz told the bankruptcy court in a recent written statement.

Pacifica Ventures’ bankruptcy hasn’t kept it from moving forward with project, including a studio in the Hartford area. But whether Pacifica agrees to build a studio in Troy might depend on the tax credits made available by the state. As reported in late March by the Connecticut-based Journal Inquirer:

Although there have been numerous proposed start dates for the multimillion-dollar Connecticut Studios project, a project consultant said Wednesday that construction is slated to begin within 90 days.

But the industry in Connecticut is dependent on the state’s lucrative 30 percent tax credit, which Gov. Dannel P. Malloy has suggested limiting.

Katersky told more than 100 South Windsor Chamber of Commerce members that the studio should start construction in three months or less and would be open before the year is out.

When asked why it has taken so long to get the project off the ground, Katersky said that considering the magnitude and complexity of this project, it hasn’t taken that much time.

When pressed about the whether the state’s attractive 30 percent tax credit is necessary, Katersky said that for his customers, the six major motion picture companies, “It’s all about the tax credits.”

Dig a little on Hal and Dana and you will come back with years and years of muck-laden, failed projects. Usually the local “cheerleaders” have their own greedy agenda that fits nicely with the visitors. Save the land for the Beacon Institute and also save a bucket of cash. Regardless of how fast they may flap their legs, pigs just do not fly.

BEWARE! This snake-oil salemen swindled his partners at Culver Studios and is now in the process of swindling the dupes in Connecticut. In Connecticut, he promised hundreds of jobs (sound familier?), help to the local economy in return for building a film studio. The State swallowed the deal hook-line and sinker and gave large grants and even deeded AT NO COST some prime acreage for him to build on. No sooner did the land tranfer take place, than he took a mortgage on the property for 1.5 Million! The deed read that if his business (Connecticut Studios)fails, the town (South Windor)would get back the property – however, now they can only get a property – beset by Liens!!! What a class act swindler!
Does anyone believe that the film industry needs these studios (one in Ct. and one in NY) ? Why did the Arizona one fail? (no business!)
This is a bold faced sham! BEWARE be smarter than Connecticut!